Currently, China's new energy vehicle power batteries have entered the stage of large-scale retirement. In February of this year, the executive meeting of the State Council approved the Action Plan for Improving the Recycling and Utilization System of Power Batteries for New Energy Vehicles. The meeting pointed out that it is particularly important to comprehensively improve the level of power battery recycling and utilization capabilities, strengthen full chain management, focus on breaking through bottlenecks, and build a standardized, safe, and efficient recycling and utilization system.

Recently, Guoxuan High Tech and Jinjing New Energy reached a strategic cooperation on battery recycling. Based on Jinjing New Energy's over 60 service points worldwide and Guoxuan High Tech's estimated annual battery production capacity of approximately 300 GWh, the two parties will collaborate to establish a comprehensive system for lithium battery sales, after-sales service, and recycling.
According to Bloomberg, CATL is in talks with relevant parties to establish a battery recycling business in Europe. It is reported that the battery factory built by CATL in Hungary will be put into operation in 2025. Its first phase goal is to achieve an annual production capacity of 40GWh, which will be expanded to 100GWh in the future. Ningde Times stated, "Establishing a recycling business will help alleviate people's environmental concerns about battery production and processing. We hope to achieve a closed loop from manufacturing to recycling here
Industry data shows that as of the end of 2024, the number of new energy vehicles in China has exceeded 31.4 million, and at the same time, the number of retired power batteries has been increasing year by year. Early assembled power batteries are facing retirement, and the recycling market is on the rise. A blue ocean market worth over 100 billion yuan has attracted numerous companies to compete for layout. In 2024 alone, there will be over 40000 newly registered companies related to battery recycling, making the market exceptionally hot.